LATEST NEWS   Cost implications from raw materials and other costs visible after June -- Energy Commission | The Energy Commission is looking at energy cost scenarios in case the West Asia conflict is prolonged — CEO | The Energy Commission has done its part to secure raw supply for energy fuel in short term period - EC CEO | About 85 pct of domestic or household consumers will remain at a stable or neutral level in terms of electricity bill impact following the incentive -- Energy Commission CEO | Automatic Fuel Adjustment: Electricity, gas tariff adjustments to be made periodically based on the actual cost of supply - Energy Commission CEO | 
BUSINESS • 17/07/2025 09:06 PM

Sunway Unit Bags S$703.6 Mln Residential Development Job In Singapore

KUALA LUMPUR, July 17 (Bernama) -- The Urban Redevelopment Authority of Singapore has awarded a 1.58-hectare land parcel at Chuan Grove, Singapore, to Sing Holdings Residential Pte Ltd (SHRPL) and Sunway Developments Pte Ltd (SDPL), following a successful joint tender by both parties.

In a Bursa Malaysia filing today, Sunway Bhd said the contract involves a 99-year lease for residential development at a total consideration of S$703.6 million (approximately RM2.33 billion).

SDPL is a wholly owned subsidiary of Sunway Holdings Sdn Bhd, which is in turn wholly owned by Sunway Bhd.

“SHRPL and SDPL will incorporate a joint venture company -- where SHRPL and SDPL will hold equity interests in a 65:35 ratio at a later stage -- to undertake the development of the land,” Sunway added.

The proposed development is expected to contribute positively to the earnings of the Sunway Group from the financial year ending Dec 31, 2026 onwards.

-- BERNAMA

 

More News

Categories

Tags